Carlin Gold Corporation

July 16, 2015 16:13 ET

Carlin Gold Corporation: $150,000 Received from Sale of Marketable Securities

VANCOUVER, BRITISH COLUMBIA--(Marketwired - July 16, 2015) - Carlin Gold Corporation (TSX VENTURE:CGD), ("Carlin" or the "Company") reports that it has sold 1,000,000 shares of its 2,000,000 share position in Constantine Metal Resources Ltd. ("CEM"), for proceeds of CDN$150,000 to the Company. The shares were sold to an affiliated company of Carlin's largest shareholder, Electrum Gold Exploration LLC.

The sale of the shares of CEM was approved by vote of the independent directors of the Company. Three of Carlin's directors at the meeting abstained from voting, due to their director or officer relationships with Electrum or CEM. The Company still owns 1,000,000 shares of CEM.

The funds will be used for working capital and maintenance of exploration properties in Nevada.

About Carlin

Carlin owns 100% of three properties in northern Nevada, all of which represent Carlin-type gold targets. Cortez Summit is centrally located in Eureka County on the Cortez Trend, in the middle of the most active gold exploration area in Nevada. The property consists of 142 unpatented claims located in the southern Cortez Mountains between the historic Buckhorn and Horse Canyon mines. Barrick's Cortez Hills operation (11 million oz gold pre-production reserve/resource) lies 4 miles (6.4 km) west of the property, and Barrick's new Goldrush discovery (15.5 million oz resource) approaches to within 1 mile (1.6 km) of the southeast portion of the property. The JDS property consists of 77 unpatented claims located in Eureka County, approximately 13 miles southeast of Cortez Summit. The Willow property consists of 89 unpatented claims located in northeast Nevada, northwest of the 2.6 million ounce Long Canyon gold discovery in the Pequop Mountains, owned by Newmont Mining Corporation.

K. Wayne Livingstone, President and Chief Executive Officer

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.

Contact Information

  • Carlin Gold Corporation
    K. Wayne Livingstone
    President and Chief Executive Officer
    (604) 638-1402